T.J. Maxx Correlations

TJX Stock

USD 121.47 1.70 1.42%

The current 90-days correlation between TJX Companies and Burlington Stores is 0.61 (i.e., Poor diversification). The correlation of T.J. Maxx is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

T.J. Maxx Correlation With Market

Very weak diversification

The correlation between The TJX Companies and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The TJX Companies and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in The TJX Companies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with T.J. Stock

0.61

PAG

Penske Automotive

Pair Corr

Moving against T.J. Stock

0.49	PDD	PDD Holdings Earnings Call Tomorrow	Pair Corr
0.58	MSN	Emerson Radio	Pair Corr
0.42	MBC	MasterBrand	Pair Corr
0.4	DAO	Youdao Inc	Pair Corr
0.38	QSR	Restaurant Brands	Pair Corr
0.31	AGS	PlayAGS	Pair Corr

Related Correlations Analysis

	BURL	GES	URBN	PLCE	ROST	BKE	HIBB	ANF	GPS	FL
BURL		0.24	0.41	-0.03	0.6	0.28	-0.17	0.14	0.34	0.51	BURL
GES	0.24		-0.01	-0.38	0.76	-0.62	-0.44	0.38	0.13	0.7	GES
URBN	0.41	-0.01		0.41	-0.03	0.64	-0.14	0.34	-0.14	0.13	URBN
PLCE	-0.03	-0.38	0.41		-0.36	0.48	0.34	-0.23	-0.2	-0.51	PLCE
ROST	0.6	0.76	-0.03	-0.36		-0.43	-0.33	0.2	0.31	0.74	ROST
BKE	0.28	-0.62	0.64	0.48	-0.43		0.22	0.1	-0.11	-0.34	BKE
HIBB	-0.17	-0.44	-0.14	0.34	-0.33	0.22		-0.43	0.21	-0.55	HIBB
ANF	0.14	0.38	0.34	-0.23	0.2	0.1	-0.43		-0.44	0.35	ANF
GPS	0.34	0.13	-0.14	-0.2	0.31	-0.11	0.21	-0.44		0.15	GPS
FL	0.51	0.7	0.13	-0.51	0.74	-0.34	-0.55	0.35	0.15		FL
	BURL	GES	URBN	PLCE	ROST	BKE	HIBB	ANF	GPS	FL

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

ROST	+ 0.76	GES
FL	+ 0.74	ROST
FL	+ 0.7	GES
BKE	+ 0.64	URBN
ROST	+ 0.6	BURL
FL	+ 0.51	BURL

High negative correlations

BKE	- 0.62	GES
FL	- 0.55	HIBB
FL	- 0.51	PLCE
GPS	- 0.44	ANF
HIBB	- 0.44	GES
ANF	- 0.43	HIBB

Risk-Adjusted Indicators

There is a big difference between T.J. Stock performing well and T.J. Maxx Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze T.J. Maxx's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BURL	1.35	0.02	(0.01)	0.15	1.96	(1.26)	2.72	(2.77)	9.11
GES	1.63	(0.45)	0.00	(0.21)	0.00	0.00	2.98	(3.63)	8.81
URBN	1.57	(0.06)	(0.03)	0.06	1.70	(1.75)	3.86	(3.10)	7.06
PLCE	7.88	1.93	0.29	0.96	6.09	(9.97)	24.62	(11.60)	107.65
ROST	1.06	(0.11)	0.00	(0.17)	0.00	0.00	2.19	(2.62)	6.21
BKE	1.55	0.13	0.09	0.24	1.34	(1.86)	4.83	(2.37)	7.75
HIBB	0.65	0.32	0.71	5.96	0.00	(0.67)	0.56	(0.24)	19.75
ANF	2.71	(0.25)	0.00	(0.04)	0.00	0.00	4.82	(4.98)	19.79
GPS	2.96	0.12	0.05	0.22	2.65	(4.19)	6.38	(4.61)	36.06
FL	2.18	(0.66)	0.00	(0.39)	0.00	0.00	3.83	(4.66)	13.15

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC